UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $12.04 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,874 shares of the industrial products company’s stock after selling 3,312 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Franklin Electric worth $12,041,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. FORA Capital LLC acquired a new stake in Franklin Electric during the third quarter worth approximately $394,000. Glenmede Trust Co. NA lifted its position in Franklin Electric by 2.6% during the third quarter. Glenmede Trust Co. NA now owns 8,077 shares of the industrial products company’s stock worth $847,000 after acquiring an additional 202 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Franklin Electric by 15.5% during the third quarter. BNP Paribas Financial Markets now owns 39,027 shares of the industrial products company’s stock worth $4,091,000 after acquiring an additional 5,235 shares during the last quarter. FMR LLC lifted its position in Franklin Electric by 49.4% during the third quarter. FMR LLC now owns 7,588 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 2,508 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Franklin Electric by 6,578.0% during the third quarter. Quantbot Technologies LP now owns 12,421 shares of the industrial products company’s stock worth $1,302,000 after acquiring an additional 12,235 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.

Franklin Electric Stock Performance

NASDAQ FELE opened at $106.57 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12-month low of $90.79 and a 12-month high of $111.94. The company has a market capitalization of $4.87 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.36 and a beta of 0.98. The firm has a 50-day moving average price of $104.93 and a two-hundred day moving average price of $101.20.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.94%. Franklin Electric’s payout ratio is 25.32%.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.